On Friday, July 31^st BasicTrademark, the Group's brand owning company, a wholly-owned subsidiary of BasicNet, signed an agreement to reacquire the Kappa^® brand for Japan from the Chinese Group DongXiang, listed on the Hong Kong Stock Exchange. The closing of the transaction, which is expected to take place in the coming months, stipulates consideration of 13 million US dollars for the purchase of all related rights. The rights for the exploitation of the Kappa^® brand for Japan had been sold in 1994 to Phenix, a Japanese licensee company, by the newly incorporated BasicNet to finance the acquisition of Maglificio Calzificio Torinese. In 2008, the Phenix Group was acquired by the Chinese Group DongXiang, owner since 2006 of the Kappa^® brand for the territories of China mainland and Macao.